The Asheville citizen. [volume] (Asheville, N.C.) 1885-1889, 1887-10-11

| Submitting 10 The People or BMncOn,br a DrOD.
"Sffi0" TO G"EhOrisr a smbscIIvliOn to car
| t~IB Railroads.
| OFFICE OF BOARD OF COMMISSIONERS !
| BuncOmbe County
AsIeYiie, n. e.. Oct, II, 1887
Inc Board met according 70 adjournment
Present, J. E. Ranktn, chairmaa: J. A. Reagan,
l. D. Britain, J. C. Curtis anil J. r. WeHs, mem.
bers.
The question of subscribing stock to the several
| rairoad companies hereinafter referred to COT.
ing before the Board for consideration, the
| Board hereby adopts the following proposition
ana orders the same to be entered of record; that
| is to say:
] Whereas, the Carolina Central Railway com,
psHy has charter to construct a railroad from
the ctV OF Wilmington, IN this State, to or near
tne most eligible point on the line of division be-
| t"eeA TINS STATE and the State of Tennessee or
| virginia, or either or both of them, and has
completed and is operating said road to the town
} OF knthertordton, about forty miles southeast of
Ashevile; and
| Whereas. The Carolina. KNOXVILLE & Western
| Railroad company has charter to construct a
railroad from the South Carolina lire TO the Ten.
nesSeG line; and
Whereas, The Ashevfle & Burnsvfiie Railroad
company hasa CHARTER authorizing it 20 construct
| a railroad from Asheville, by way of WeayeryilIs
| through the counties of Madison ard Yancey. to
| Cranb rry. ia The county of Mitchell, OF some
otherpoint in said county, OF to The Tennessee
line at any other point IN the counties OF Yancey
| or Mitchell, connecting wIta the Tennessee, lion
Mountain Il Carolina Railroad; and
whereas, 1t represented that said railroad
companies propose to extend their roads into OF
through the county CT BuncOmbe, and that sub.
70 tboJnn
OF Brncomoe is necessary to aid in the compile
ton of said several railroads. in which the Cit
zens of the county have deep interest, the said
Board of Commissioners do submit to the Deonro
OF Buncombe county the questiun whether they
VIII authorize subscription of One Hundred
Thousand Dollars (SlO0,O00) in the bonds of the
county. to the capital stock of the said Carolina
central Railway company a subscription of Two
hundred Thousand Dollars (S2GO,OOO in bonds of
the county, to the capital stock Of the Carolina.
knoxville 4 Western Railroad COMPANY; and a
| subscription ofOn Hundred Thousand Dollars
(SIOOOOO) to the said AsheyiIle & Burnsvile Rail,
| road company; all upon the following terms and
conditions; that is to say:
l. That the principal ofsaid bonds shall he nav
| able at the end OF thirty years from the date of
their issue.
:. That they shall bear interest at the rate of
! four per cent per annum, payable semi annually
Tor which coupons shall be attached to each bond,
| the said interest to be payable at such time and
| place IS the Board OF County Commissioners NAV
| hereafter determine.
). That the said bonds shall not be issued, paid
| out or delivered to the Carolina Central Railway
| Company. until its road shall be completed and
Its cars running from it present terminus through
falrvi=w township, IN this county, to the city of
| Asheville;
Nort9 the said Carolina Knoxville & Western
| Railroad company III til its road shall be com.
o oe:ed from its present terminus through AYery's
Creek township, to the city of Asheville, thence
through Leicester an Sandy Mush townships, III
| the direction ofKnoXville, and the cars rum pg
| thereon:
Nor to the said AsheVille c Burnsvllle Railroad
| company. Until its road shall be completed
through Big Ivy, Flat Creek and Reems Greek
townships, by way of Weavervile to the city OF
Asheville and the cars running thereon.
Provided, however, Tn in case either one OF
the said Railroad companies shall not accept
| within reasonable time (and this shall be deter
| mined by the sad Board of Commissioners and
| IN good faith enter upon the work OF building
\ its said railroad, as 'reinbcfore provided or in
| case it shall commence said work and fail to
prosecute the same with reasonable vigor and ex.
| PSdIliOLI tlen Lle SllQ Board OF Commissioners
| shall have the power and it shall he their duty
| to refuse to subscribe said stock at ALL and they
may 10 such case. in their discretion subscribe
said st 'ck. and deliver said bonds, intended for
the company so taiiin5 Gs aforesaid, to any other
railroad company or companies that shall, within
reaso liable time thereafter complete railroad
through the saTe tonW ships respectively as here
inbefOre provided.
Provided, further, That the substitution n,
stock to sid companies respectively shall not be
considered as made, or this proposition to sub-
scribe the same, as ofany binding force until the
said Board Of County Commissioners, by
themselves or their regularly constituted agent
shall have actually entered the same uDon the
books of the said companies respectively. and
said subscription shall only be made upon the
condition Il at no other stock shall have prefer
ence over the said stock:
And provided further, That the said bonds shall
tie made ofsuch denominations as the Board of
County Commissioners may deem proper and the
coupons attached thereto shall be receivable in
payment of county taxes.
To the end that the people of the county NAV
have the opportunity to decide for themselves
whether or not they will authorize the said sub.
scriptions of stock to be made to the several rail-
road companies aforesaid, on the terms and CON-
ditions set forth above; the Board of Commission
ers of Buncombe county, by majority vote
hereby order
That the Sheriff of Buncombc county proceed
to open and hold an election at the different
places of holding elections in said county in ac~
cordance with an under the laws and reguIa-
tiohs provided Tor the election of members of the
General Assembly. on Saturday the 18th day ot
November, 1887, at which time the qualified yo.
ters of said county shall vote upon the question
OF said subscriptions on behalf of the county, and
every vo CT who shall desire to vote for the said
subscriptions shall deposit a ballot on Shich
shall be written or printed the word "Subscrp-
Iion,' and those who are opposed to s1ch sinh
scription, shall deposit ballot on which shah
be written or printed the words No Subscrip-
ton. AMI the SAIL Sheriff shah Cause the result
of said election to be certified TO this Board al
ed by law.
By ordGr OF the Board.
Oct IL, 1887. J r. RANKIN. Chm.